About This Chapter
Financial Reporting - Chapter Summary
This chapter's informative lessons take an in-depth look at income statements, balance sheets and other aspects of financial reporting. Our expert instructors explain why financial reporting is important in business and accounting. Access the lessons as entertaining videos or written transcripts on any computer, smartphone or tablet. With each lesson is a short quiz designed to assess your comprehension of financial reporting. Take advantage of these and other chapter resources to enhance your ability to:
- Identify the primary components and purpose of financial reporting
- Discuss the importance of financial statements
- Explain how financial statement ratios help companies gauge their performance
- Discuss the purpose and components of the income statement
- Share the definition and purpose of the balance sheet
- Calculate cash flow
- Describe the format and purpose of the statement of cash flows
1. What Is Financial Reporting? - Purpose, Statement Examples & Analysis
Financial reporting is a vital part of corporate governance. In this lesson, you'll learn what financial reporting is, its primary components, its purpose, and be provided with some examples. A short quiz follows the lesson.
2. What Are Financial Statements? - Definition, Purpose & Importance
Financial statements are big players in the world of accounting. In this lesson, you will be introduced to each of the financial statements. You will also learn what their role is in the accounting industry, who they are important to and why they are important.
3. Financial Statement Ratios: Determining Company Performance
Have you ever wondered why the financial statements are so important to a company? In this lesson, you will learn about several financial statement ratios and how they help determine company performance.
4. What Is an Income Statement? - Purpose, Components & Format
There are four financial reports that are created during the accounting cycle. These four reports make up what is commonly known as the financial statements. In this lesson, we will focus our attention on the income statement. We will learn what the income statement is, what its role in the financial statements is, and why it is important in accounting.
5. The Balance Sheet: Purpose, Components & Format
There are four financial reports that make up a group known as the financial statements. We will take a walk with one of those reports - the balance sheet - and learn what it is, what items are included on it and what its role in the group is.
6. What Is Cash Flow? - Definition, Calculation & Example
Companies can't function without sufficient cash flow. In this lesson, you'll learn what cash flow is and how to calculate it, and you'll be provided some examples. You'll also have a chance to take a short quiz.
7. The Statement of Cash Flows: Purpose, Format & Examples
There are four financial reports that are required in financial statements. In this lesson, you will learn about the fourth and final report - the statement of cash flows. You'll learn what the makeup of the statement is, its purpose, and why it is important to users of the financial statements.
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Other chapters within the Financial Accounting: Help and Review course
- Introduction to Accounting: Help and Review
- Financial Statements in Accounting: Help and Review
- Mechanics of the Accounting Cycle: Help and Review
- Project Evaluation & Analysis
- Preparing Financial Statements: Help and Review
- Internal Controls in Accounting: Help and Review
- Merchandising Operations and Inventory in Accounting: Help and Review
- Current and Long-Term Liabilities in Accounting: Help and Review
- Adjusting Accounts & Preparing Financial Statements: Help and Review
- Taxation of Business Entities
- Accounting Changes & Errors
- Classifying Costs in Accounting
- Cost Accounting Methods
- Cash Flow Statements & Disclosures
- Asset & Inventory Management
- Small Business Financing
- Small Business Accounting